Bitcoin Not Involved In Major US$40m Fraud Scheme
After a joint investigation was conducted by the US Immigration and Customs Enforcement and Homeland Security, seven people were arrested. Fraud is an international business, albeit some countries seem more prone to criminal activity than others. Six Nigerians have been arrested and sentenced for their role in a US$40m fraud scheme. Although Bitcoin was not involved – from what we can tell – they used any other means at their disposal to defraud users all over the world. Among the scams run by this group are check fraud secret shopper schemes, and personal assistant work-from-home fraud....
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It is this latter part that causes some concern. For now, it remains unclear which Bitcoin exchange was run by these individuals. JPMorgan Chase fell victim a major computer hacking and fraud scheme a while ago. As it turns out, an American has been involved in this scheme. Joshua Aaron was arrested on Wednesday after the entered the US from Russia. This flight was a part of this extradition to the US, where the will face several charges relate to the JPMorgan Chase hack. A total of nine people are under investigation for their involvement in the hack against this financial institution.....
Crypto scam is a pain in the neck for governments around the globe. It involves a huge amount of money and as technology advances, so do the tricks fraudsters employ behind the scheme. British authorities have ordered the shutdown of two companies involved in a crypto-related fraud. An investigation into the two firms revealed that […]
The $2 billion crypto fraud scheme Bitconnect and its founder have been charged in the U.S. In a parallel enforcement action, a Bitconnect director and top promoter has pleaded guilty to criminal charges in the U.S. “The Bitconnect scheme is believed to be the largest cryptocurrency fraud ever charged criminally,” said the U.S. Department of Justice (DOJ).
US Authorities Take Action Against Bitconnect and Its Founder
U.S. authorities continue to take action against the fraudulent crypto trading scheme Bitconnect and its executives this week. “The Bitconnect....
Charles Ponzi. Trendon Shavers, aka "Pirate@40," was arrested this morning on securities fraud and wire fraud charges stemming from his involvement in a Bitcoin-related Ponzi scheme. A Ponzi scheme is a fraudulent investment operation where the operator pays returns to its investors from new capital paid by new investors, rather than from profit earned. The scheme is named after Charles Ponzi, who became notorious for using the technique in 1920. Shavers was the founder and operator of Bitcoin Savings and Trust (BCS&T), which offered and sold Bitcoin-based investments through the Internet.....
In a Brooklyn federal court on Thursday, crypto personality Thomas John Sfraga, also known as “TJ Stone”, pleaded guilty to wire fraud charges for defrauding over a dozen victims out of more than $1.3 million. Fictitious Scheme Exposed According to the US Department of Justice, from 2019 to 2022, Sfraga “falsely” presented himself as the […]